CNBC’s Jim Cramer spoke with U.S. attorney Preet Bharara yesterday at the network’s Delivering Alpha conference about insider trading.
(Bharara is one of those responsible for investigating insider trading on Wall Street.)
As New York Magazine notes, during the talk, Cramer brought up Snapchat, the app that lets you send self-destructing photos and videos to friends, and said it could be used as a tool for insider trading.
Bharara had no clue what Snapchat was, so Cramer explained it to him.
It was all in context of a recent New York Magazine story that said Wall Street bankers are obsessed with Snapchat. Cramer took the story a step further yesterday, saying the app could be used to facilitate insider trading.
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